"Gift Tax Exclusion" - JD Supra Law News

The Fallout from the American Taxpayer Relief Act – What a Relief?

by Niles, Barton & Wilmer, LLP on 5/15/2013

... the media cycle moves so quickly these days, you may have already forgotten about the frantic last few days of 2012, during which Congress and the White House worked feverishly to save us all from going off the fiscal cliff, which carried with it projected short-term fiscal and economic impacts. One result of those panicky negotiations was... more

Planning And Paying For Long-Term Care (Part 6 In A Series: Medicaid/Medical Assistance)

by McNees Wallace & Nurick LLC on 5/10/2013

... Part 5, I discussed the issue of “excess” assets and the “spend-down” process in Medical Assistance. Apart from a couple’s exempt assets (house, one car, household furnishings, etc.), the remaining assets are “countable” assets for purposes of Medical Assistance. If a couple has countable assets of... more

Mcnees Insights - Asset Planning and Federal Taxation - Spring 2013

by McNees Wallace & Nurick LLC on 5/8/2013

... This Issue: ATRA 2012 – How Does it Affect You?; Planning and Paying for Long-Term Care; and Obama Revenue Raising Proposals. Excerpt from ATRA 2012 – How Does it Affect You?: The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on January 1, 2013. Among other things, the Act amended... more

The Estate Planner - May/June 2013

by Shumaker, Loop & Kendrick, LLP on 4/19/2013

... This Issue: - Exemption portability: Should you rely on it? - Decant a trust to add trustee flexibility - Using the GST tax exemption to build a dynasty - Estate Planning Red Flag: Your plan includes a charitable lead trust - Excerpt from Exemption portability: One of the significant changes under the American... more

Insight on Estate Planning - April/May 2013

by Adler Pollock & Sheehan P.C. on 4/16/2013

... This Issue: - How to fund long-term care insurance with a tax-free exchange - Should a CRT be part of your estate plan? - The key to an effective trust is education - Estate Planning Pitfall: You’ve named a minor as beneficiary of your life insurance policy or retirement plan - Excerpt from Should a CRT be... more

Insight on Estate Planning - April/May 2013: The key to an effective trust is education

by Adler Pollock & Sheehan P.C. on 4/1/2013

...e trust is required to provide beneficiaries with withdrawal rights in order to qualify contributions for the $14,000 annual gift tax exclusion. Although you can’t ask your beneficiaries to agree not to exercise their withdrawal rights, you should educate them a... more

Questions answered about estate tax exemption and related issues

by Crider Law PC on 2/22/2013

...And the annual gift tax exclusion rose to $14,000 for 2013.... more

Alert: Estate Planning - January 2013

by Pullman & Comley, LLC on 2/5/2013

... Although not part of the Act, it is important to note that the annual gift tax exclusion amount (which is indexed for inflation) increased to $14,000 per recipient on January 1, 2013. ... more

2013 Tax Update Letter

by Hopkins & Carley on 1/30/2013

... Clients and Colleagues: This letter provides you with a summary of the American Taxpayer Relief Act of 2012 (the “Act”) with respect to the key estate and gift tax provisions, and presents some thoughts on wealth planning in 2013. On Wednesday, January 2, 2013, President Obama signed the Act, which passed Congress the day before.... more

2013 Estate Planning Update

by McCarter & English, LLP on 1/30/2013

... 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the American Taxpayer Relief Act of 2012 ("ATRA"), which became law on January 2, 2013, when it was signed by President... more

Make a New Year’s Resolution to Review Your Estate Plan in 2013

by Partridge Snow & Hahn LLP on 1/29/2013

...es many individuals a continued opportunity to make large gifts and save on estate taxes. Additionally, the annual gift tax exclusion amount is increased from $13,000 to $14,000 per year, per recipient. This means that couples may gift up to $28,00... more

“Fiscal Cliff” Tax Bill: The Highlights

by Ronald Adams on 1/22/2013

...nd spouse dies. This “marital deduction” applies only if the inheriting spouse is a U.S. citizen.  The lifetime gift tax exclusion and the estate tax exclusion are still merged as a “unified credit” – currently $5.25 million per person &... more

Estate Planning After the Fiscal Cliff Deal

by Katten Muchin Rosenman LLP on 1/17/2013

...rate for estate, gift and GST taxes will increase from 35% to 40%. • Though unrelated to ATRA 2012, the amount of the annual gift tax exclusion increased from $13,000 per donee in 2012 to $14,000 per donee in 2013. Thus, a husband and wife together will be able to gif... more

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

by Poyner Spruill LLP on 1/15/2013

... January 2, President Barack Obama signed into law the American Taxpayer Relief Act of 2012, H.R. 8 (ATRA), preserving many of the key tax provisions passed during the George W. Bush presidency, which were scheduled to lapse at the end of 2012. The Senate passed the original bill, which avoids what had come to be known as the “fiscal... more

New Tax Act Provides Long-Awaited Clarity and Certainty on Estate, Gift and Generation-Skipping Transfer Taxes, and Income Tax Rates

by Morrison & Foerster LLP on 1/15/2013

...er an additional $130,000 (or $260,000 for a married couple) in 2013 without paying any gift, estate, or GST tax. The annual gift tax exclusion amount, which was not changed by ATRA, has also increased from $13,000 in 2012 to... more

Home

Legal News

Find a Lawyer

Browse Subjects

Subscribe

Pro Services

For Reporters

Legal updates for: "Gift Tax Exclusion"